Category: Business

South Sudan's central bank said Monday it will issue higher denomination banknotes, enabling citizens to carry fewer notes as rampant inflation continues to devalue the local currency. The bank said it would introduce a 500-pound bill, worth $1.5 U.S. dollars, into circulation this month. Currently…

President Donald Trump tweeted out more criticism of U.S. trade partners Monday, including allies in Europe and Canada, adding to his declarations that the United States will no longer tolerate what he has called "trade abuse." "Sorry, we cannot let our friends, or enemies, take…

A radical plan to transform Switzerland's financial landscape by barring commercial banks from electronically creating money when they lend was resoundingly rejected by Swiss voters on Sunday. More than three quarters rejected the so-called Sovereign Money initiative, according to the official result released from the…

Italy's new coalition government has no intention of leaving the euro and plans to focus on cutting debt levels, Economy Minister Giovanni Tria said on Sunday, looking to reassure nervous financial markets. Italian government bonds have come under concerted selling pressure on fears the government…

The Shanghai Cooperation Organization (SCO)is holding its first summit since India and Pakistan joined the bloc which is widely seem by observers as a means for blocking American influence in Central Asia.  The founding members of the alliance are China, Russia, Kazakhstan, Uzbekistan, Kyrgyzstan and…

Canadian Prime Minister Justin Trudeau announced Saturday that nearly $3 billion in pledges has been raised to help fund the education of vulnerable girls and women around the world. Canada will contribute $300 million to the campaign. Germany, Japan, Britain and the World Bank are…

Prime Minister Theresa May will gather together squabbling British ministers at her country residence after this month's European Union summit to settle on details of a much-anticipated Brexit policy paper. May has yet to agree on some of the fundamental details of what type of trading relationship she wants…

French President Emmanuel Macron's economic policy is viewed as favoring the rich and must change to address inequalities, according to a memo written by three economists who worked on his campaign program, Le Monde newspaper said on Saturday. The criticism is the latest sign of…

Australia's Commonwealth Bank has agreed to pay a $530 million fine for breaching anti-money laundering and counterterrorism financing laws. The scandal relates to more than 53,000 suspect transactions that the bank did not immediately report to authorities. If approved by the Federal Court, this will…

Pope Francis has told the world's oil executives that a transition to less-polluting energy sources "is a challenge of epochal proportions." On the last day of a two-day conference Saturday, the Roman Catholic leader urged the executives to provide electricity to the one billion people…

Emotions were on display when U.S. President Donald Trump met other G-7 leaders at their annual summit in Canada on Friday, but the discussions were civilized and diplomatic, according to sources.  Trump held firm on asserting the United States is disadvantaged when it comes to…

The Senate Agriculture Committee on Friday released a bipartisan farm bill that makes mostly modest adjustments to existing programs and, unlike the House version of the bill, doesn't pick a fight over food stamps. The Senate bill, dubbed the “Agriculture Improvement Act of 2018,” is…

An Ohio gardening company where immigration agents arrested 114 workers this week in one of the largest workplace raids in the U.S. in recent years says it doesn't know if workers used fake documents to get jobs. Corso's Flower & Garden Center said Friday in…

Ukraine's parliament has voted to establish an anti-corruption court in an effort to meet the criteria to receive $17.5 billion from the International Monetary Fund.   Before the IMF releases the funds needed to shore up Ukraine's struggling economy, it will have make sure the…

The Trump administration said Thursday it would spend $4 million on construction projects in the Arctic National Wildlife Refuge in preparation for oil drilling in the nation’s biggest wildlife park. In an announcement that touted planned improvements to U.S. Fish and Wildlife Service visitor facilities,…

Argentina and the International Monetary Fund said Thursday that they had reached an agreement for a three-year, $50 billion standby lending arrangement, which the government said it sought to provide a safety net and avoid the frequent crises of the country's past. Argentina requested IMF assistance…

President Donald Trump’s tariff on imported solar panels has led U.S. renewable energy companies to cancel or freeze investments of more than $2.5 billion in large installation projects, along with thousands of jobs, the developers told Reuters. That’s more than double the about $1 billion…

India's central bank raised its benchmark lending rate Wednesday to tamp down rising inflation following an increase in oil prices. The increase of one-quarter percentage point to 6.25 percent is the first since January 2014 and comes at a time when consumer inflation is at…

 Britain, France and Germany have joined forces to urge the United States to exempt European companies from any sanctions the U.S. will slap on Iran after pulling out of an international nuclear agreement.   In a letter made public Wednesday, ministers from the three European…

Arms control experts estimate that the dismantlement of North Korea’s nuclear program could take a decade to complete, and cost $20 billion, if a nuclear agreement is reached between U.S. President Donald Trump and North Korean leader Kim Jong Un when they meet in Singapore…

Mexico put tariffs on American products ranging from steel to pork and bourbon on Tuesday, retaliating against import duties on metals imposed by President Donald Trump and taking aim at Republican strongholds ahead of U.S. congressional elections in November. Mexico's response further raises trade tensions…

U.S. President Donald Trump is "seriously contemplating" trying to reach separate trade deals with Canada and Mexico instead of reshaping the more than two-decade-old North American Free Trade Agreement with both neighbors, a White House economic adviser said Tuesday. Trump economic adviser Larry Kudlow told…

Starbucks Corp, the world’s biggest coffee chain, said on Monday Executive Chairman Howard Schultz is stepping down, effective June 26. Schultz, who has been with Starbucks for nearly four decades, is credited with turning the company into a popular household name and growing it from…

German chemicals and pharmaceuticals giant Bayer will discard the name Monsanto when it takes over the controversial US seeds and pesticides producer this week, it said Monday. But Bayer executives insisted Monsanto practices rejected by many environmentalists, including genetic modification of seeds and deployment of…

Institutional investors with $26 trillion in assets under management called on Group of Seven leaders on Monday to phase out the use of coal in power generation to help limit climate change, despite strong opposition from Washington. Government plans to cut greenhouse gas emissions were…

British civil servants have warned of shortages of food, fuel and medicines within weeks if the U.K. leaves the European Union without a trade deal, a newspaper reported Sunday. The Sunday Times said government officials have modeled three potential scenarios for a "no deal" Brexit:…

China is warning the United States any trade and business agreements between the two countries will be void if President Donald Trump carries out his threats to impose tariff hikes and other trade measures. The warning came after U.S. Commerce Secretary Wilbur Ross and Chinese…

Britain will not sign a trade agreement with the United States that is not in the country's best interests, Trade Minister Liam Fox said Saturday after European Union officials filed a complaint with the World Trade Organization over stiff U.S. tariffs on steel and aluminum…